Our mission is to Develop, Enhance and Maintain Profitability and Equity for every Pepperidge Farm Owner
POAA Gives Meaning to the Motto: "In Business For Yourself, Not By Yourself."
WHAT IS GOOD FAITH?
Owners who participated in POAA in-person roadshows and workshops already know that TeamPOAA is a proponent of asking and answering a lot of questions to stimulate critical thinking. The simple process of engaging in a cooperative but argumentative dialogue is often an effective way to expose presuppositions and draw out new ideas. Through the questioning process, we strive first to identify and then to defend our moral intuition about how PF’s policies and practices impact our businesses. TeamPOAA typically introduces the process by asking everyone to think about: “What is Good Enough?” “Is What Good Enough?” “How do you measure Good?” “Enough?” This week, we ask everyone to consider another seemingly simple question: What is Good Faith?
Oxford Languages online defines “Good Faith” simply as “honesty or sincerity of intention.” Cornell’s Legal Information Institute (LII) defines “Good Faith” as “honest dealing.” According to the American Bar Association (ABA), a voluntary association of lawyers and law school students, there is no specific definition of “Good Faith” because the courts have discretion to determine its scope on a case-by-case basis - but Good Faith is generally defined as “honesty in a person’s conduct during the agreement.”
The LII and ABA definitions of Good Faith mostly likely include the way one deals with another during a contractual relationship because every contract contains an implied duty of good faith and fair dealing. Interestingly, the implied covenant obligates the parties to a contract to perform their contractual obligations in "Good Faith" (honestly). Even more interesting is the principle of “Fair Dealing”, which is more than mere honesty because it generally requires that a party cannot act contrary to the “spirit” of the contract, even if one party gives notice to the other of their intention to do so.
The next POAA Zoom Meeting will begin at 7pm EST on Tuesday, September 29th. Spend an hour networking with owners from all over the country, brainstorming about best practices to protect your equity, and finding out how others are handling the serious business issues that impact every owner. Join the discussions.
PLEASE TAKE NOTE
ZOOM NOW REQUIRES A MEETING PASSWORD
Our Password is: Swirlbread
or if you have a FREE Zoom account the code is 860 4691 4758 Password Swirlbread
TIP OF THE WEEK
Practice asking and answering questions with other owners from your depot and around the country. Start the process with an obvious issue, such as: What is the true meaning and intent of "Bulletin Prices", an industry defined term that appears in the Green and every version of Blue consignment contract - but not the Yellow? OR What is the scope of PF's discretion to change its stale policy, which is referenced in our consignment contracts only in the definition of Stale Products?
The opinions and beliefs expressed in this newsletter are intended only to spark discussions about serious and ongoing business issues that impact every owner in PF’s distribution network. If you need or want legal advice, you must consult with your attorney.
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You are receiving this email because you own an Exclusive Pepperidge Farm Franchise and/or an Exclusive Pepperidge Farm Distributorship, and you should know that the Pepperidge Farm Owners Association of America is proactively protecting your rights.